Physical Therapy Office
For Sale
$399,000
5 Bay State Court, Brewster, MA 02631
COMMERCIAL - Brewster, MA
Property Size933 SF
Price / SF$427.65
Days on Market161
Property Features for 5 Bay State Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
VB
Appliances
Water Heater
Lot features
Cleared
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
6A to 5 Bay State Court Unit 5
Subdivision
Brewster
Standard status
Active
APN
BREW M:138 B:47 L:4923
Size
933 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1194
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Floors in Building
1
Flooring type
Carpet
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Bayside Realty Consultants
(508) 432-2211
Listed By:
Kimberly A Clark
(508) 685-6660
Added: Mar 13
Changed: Aug 11
Last Checked: Aug 20 at 5:06PM
MLS# 22600730
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property presents a well-established physical therapy practice available for sale in Brewster. The offering includes the real estate and a fully operational practice package with the business, essential equipment, and a comprehensive patient database. The space is set up for day-to-day clinical workflow and includes multiple treatment rooms designed to accommodate physical therapy needs.
The suite is located on the town line of Orleans and is accessed easily with ample parking available for both staff and patients. As a first-floor unit, it supports convenient patient access and includes an ADA-compliant bathroom.
For a clinician looking to step into an operating practice, the included components are intended to support continuity rather than start-up. The sale structure offers a ready-to-operate environment with the necessary equipment and an established patient base. The seller is also willing to stay on to assist with the transition, which may help support a smoother handoff for an incoming owner or operator.
The suite is located on the town line of Orleans and is accessed easily with ample parking available for both staff and patients. As a first-floor unit, it supports convenient patient access and includes an ADA-compliant bathroom.
For a clinician looking to step into an operating practice, the included components are intended to support continuity rather than start-up. The sale structure offers a ready-to-operate environment with the necessary equipment and an established patient base. The seller is also willing to stay on to assist with the transition, which may help support a smoother handoff for an incoming owner or operator.
Key Highlights
- Well‑established physical therapy office for sale, includes business, real estate, established patient database, and required physical therapy equipment.
- First‑floor unit with multiple treatment rooms designed for efficient patient workflow and continuity of care.
- ADA‑compliant bathroom for accessibility, plus easy access with ample parking for staff and patients.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,190
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$263,800
$263.8K
Cap Rate 7%
$188,429
$188.4K
Cap Rate 9%
$146,556
$146.6K
Market Conditions
NOI Build-Up for 933 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.5K $25.20/SF
− Vacancy
−$1.5K −$1.64/SF
EGI
$22.0K $23.56/SF
− OpEx
−$8.8K −$9.42/SF
NOI
$13.2K $14.14/SF
Area
Barnstable County, MA
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$263,800
Cap Rate 7%
$188,429
Cap Rate 9%
$146,556
Alternative Uses
Best Use
Healthcare Medical
$188.4K
$164.9K – $219.8K
NOI $13,190 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.2K
$332.7K – $443.6K
NOI $26,614 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 02631, MA
10,178
Population
8,215
Households
1.2
Avg Household Size
58
Median Age
52%
College-Educated
98%
High-School Grad
22.2 sq mi
ZIP Area
458
Density / Sq Mi
$93,427
Median Household Income
$47,395
Median Earnings
$1,386
Median Rent
$621,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - First-floor suite with multiple treatment rooms, ADA-compliant restroom, and ample parking for staff and patients.
Where is this rehabilitation center located?
The property is located at 5 Bay State Court Brewster, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Well‑established physical therapy office for sale, includes business, real estate, established patient database, and required physical therapy equipment.; First‑floor unit with multiple treatment rooms designed for efficient patient workflow and continuity of care.; ADA‑compliant bathroom for accessibility, plus easy access with ample parking for staff and patients.
